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India close to achieving 8% GDP growth: Panagariya
Mr Arvind Panagariya, Vice Chairman of National Institution for Transforming India (NITI) Aayog of India, has stated that India is expected to achieve 7.6 per cent growth in gross domestic product (GDP) in FY 2015-16, driven by expectations of 7.8 per cent GDP growth in fourth quarter of year, led by progress in infrastructure development.
India ranked sixth in top 10 largest manufacturers list, as per a UN report
India’s ranking among the world’s 10 largest manufacturing countries has improved by three places to sixth position in 2015, as per a report by United Nations Industrial Development Organization (UNIDO).
Indian IT industry to grow at 12-14% in 2016-17: Nasscom
According to the software industry body National Association of Software and Services Companies (Nasscom), India's information technology (IT) industry is expected to grow by 12-14 per cent during FY 2016-17.
PM Narendra Modi launches 'Stand up India' to promote financial inclusion
Prime Minister Mr Narendra Modi has launched the 'Stand up India' scheme with a target of creating 250,000 entrepreneurs among Scheduled Castes, Scheduled Tribes and women across the country by providing them access to loans without collateral for setting up a new enterprise.
Factory activity at 8-mth high in March: PMI
The Nikkei/Markit manufacturing purchasing managers’ index (PMI) survey rose to an eight-month high of 52.4 in March 2016 from 51.1 points in February 2016, continuing to improve for the third consecutive month primarily due to rise in new orders across sectors.
Services PMI rises to 21-month high of 54.3 in March
The Nikkei/Markit Services Purchasing Managers Index (PMI) for India sharply increased to 21-month high of 54.3 in March 2016 from 51.4 in February 2016, led by a strong increase in the demand environment.
India commissions first semi high-speed train
The Indian Railways has successfully launched Gatimaan Express, India's first semi high-speed train powered by a 5,500 horsepower electric engine, and plans to gradually increase the speed on all trains as part of 'Mission Raftaar'.
RBI to offer other differentiated bank licences
The Reserve Bank of India (RBI) plans to introduce another round of differentiated bank licenses for entities that specialize in wholesale lending and long-term financing, which will help widen the sources of funds available to the corporate sector.